Stock Controller

Roles and responsibilities

The stock controller will be responsible for managing the purchasing and replenishment of the retail products. The role holder is also responsible for maintaining the stock levels within the budget set by the business.

Responsibilities:

• Ensures that all inventory and stock management systems are maintained and updated accurately, and within the agreed parameters
• Receives delivered supplies, materials, and equipment; confirms that delivered goods match purchase order specifications of quantity, condition, model number, etc.; completes all necessary paperwork for stock items received
• Manages all stock movements in and out, and maintain complete log of all stock movement to ensure stocks are tallied with the transfer documents
• Maintains stock levels within the agreed inventory parameters; scans stock received and delivered and highlight any discrepancy, to ensure stock movement is logged and properly controlled.
• Maintains the storeroom and the allocation of space for stock; ensures the storeroom meets defined regulations
• Supervises the implementation of health and safety procedures
• Coordinates with Store operations staffs to identify and prepare damaged stock list to ensure the said stock is scanned, packed and sent to the warehouse after obtaining required approvals
• Executes weekly cycle counts of inventory materials based upon system reports; assists in conducting complete physical inventory count annually
  

People Management:

• Defines goals and key performance indicators for each member of the team and ensures effective implementation of the GMG’s performance management process
• Develops talent within the team by providing guidance and coaching to achieve the defined goals

Desired candidate profile

1. Inventory Management

• Stock Monitoring: Regularly track stock levels to ensure that items are available when needed and avoid stockouts or overstocking.
• Inventory Forecasting: Predict future stock needs based on sales trends, seasonal fluctuations, and order history to maintain optimal stock levels.
• Stock Replenishment: Initiate purchase orders or request stock replenishments when levels fall below the required threshold.

2. Stock Organization and Storage

• Efficient Storage: Ensure that stock is stored in an organized manner, making it easy to locate and retrieve items quickly when needed.
• Stock Rotation: Implement practices such as FIFO (First In, First Out) to ensure older stock is used first and to prevent products from becoming obsolete.
• Warehouse Layout: Help in organizing the layout of the warehouse or storage areas for maximum efficiency and easy access to high-demand items.

3. Stock Audits and Stocktaking

• Inventory Audits: Conduct regular physical stock counts and audits to reconcile actual stock levels with recorded amounts in the inventory system.
• Stock Discrepancies: Investigate and resolve any discrepancies between physical stock and inventory records, such as losses or errors in stock entry.
• Reporting: Prepare inventory reports and analyses to assist management in decision-making related to stock levels, supply chain issues, or product turnover.

4. Supplier and Order Management

• Vendor Communication: Communicate with suppliers and vendors to ensure timely deliveries of stock and resolve any issues related to shortages, delays, or damaged goods.
• Order Management: Oversee the processing of orders, track deliveries, and coordinate the receipt and storage of incoming products.
• Returns and Exchanges: Manage returns or exchanges of stock, ensuring that faulty or unsellable products are processed appropriately.

5. Stock Control Systems and Technology

• Inventory Software: Utilize inventory management software to track and update stock levels, generate reports, and assist in order planning.
• Barcode Systems: Implement or manage barcode scanning systems for efficient stock tracking and reduced errors in stock management.
• Technology Utilization: Stay updated on technological advancements related to stock management, including automated systems and RFID technology.

6. Maintaining Health, Safety, and Compliance

• Safety Standards: Ensure that stock is stored in accordance with health and safety regulations, including proper labeling, handling, and storage practices for hazardous or perishable items.
• Regulatory Compliance: Ensure compliance with industry standards and government regulations regarding inventory management, particularly in sectors with strict regulatory requirements (e.g., pharmaceuticals, food, etc.).

Key Skills for a Stock Controller:

1. Attention to Detail

• Accuracy in Record-Keeping: Ability to meticulously track stock levels, prevent errors in inventory records, and ensure all discrepancies are promptly addressed.
• Data Entry Skills: Precise and efficient data entry skills to update and maintain stock records and inventory systems.

2. Organizational Skills

• Efficient Systems: Strong organizational skills to maintain an orderly inventory system, both physically in storage areas and digitally in inventory management systems.
• Time Management: Ability to prioritize tasks and manage multiple responsibilities, especially in fast-paced environments.

3. Problem-Solving Skills

• Stock Discrepancies: Ability to investigate and resolve discrepancies in stock levels, whether due to errors, theft, or damage.
• Supply Chain Issues: Solve issues that may arise in the supply chain, such as delays, overstocking, or understocking.

4. Communication Skills

• Team Collaboration: Ability to work effectively with other departments (e.g., procurement, sales, warehouse) to ensure smooth inventory operations.
• Supplier Relations: Strong communication with suppliers and vendors to resolve issues and ensure the timely delivery of stock.
• Reporting: Ability to prepare clear, concise reports and provide updates on stock levels to management.

5. Analytical and Forecasting Skills

• Demand Analysis: Ability to analyze sales trends and other data to predict future inventory needs and ensure stock levels align with demand.
• Problem Analysis: Skill in identifying trends or recurring issues within inventory processes and providing solutions to optimize stock control.

6. Technology Proficiency

• Inventory Management Systems: Proficient in using inventory management software (e.g., SAP, Oracle, or customized systems) to manage stock levels, process orders, and generate reports.
• Basic IT Skills: Comfort with using spreadsheets (e.g., Excel) and other digital tools for tracking and managing stock data.